In a move that reflects the rapid transformation of telecom companies towards playing bigger roles within the innovation ecosystem, du has announced the launch of its new investment fund, 'du Ventures,' valued at $50 million. This initiative is in partnership with Shorooq, a technology-focused investment firm, and aims to support promising startups and accelerate digital innovation in the UAE and the wider Middle East.
The new fund goes beyond just traditional startup funding. It shows du's commitment to establishing itself as a key partner in the technology and digital economy sectors, rather than just a provider of telecom services and infrastructure.
Betting on the Next Generation of Tech Companies
'du Ventures' aims to invest in startups that can turn modern technologies into practical applications and solutions for various markets. It has a clear focus on sectors that are key growth drivers for the digital economy today, including FinTech, Artificial Intelligence, Cybersecurity, Cloud Computing, Digital Gaming, Enterprise Solutions, and Customer Experience technologies.
This approach reflects du's desire to engage early with companies that have high growth potential and to help build business models that can make a real impact in regional markets.
From Telecom Operator to Innovation Partner
The launch of this fund marks a new milestone in du's strategic evolution. In recent years, du has been expanding its presence in the digital economy by investing in emerging technologies and innovative companies.
Fahad Al Hassawi, CEO of du, stated that the launch of 'du Ventures' is an extension of the company's commitment to supporting digital transformation and contributing to the UAE's vision of building a globally competitive digital economy.
He added that the fund will focus on early-stage investments in companies and technologies that align with du's strategic priorities. It will leverage du's extensive infrastructure and strong presence in the business sector, which will help accelerate the conversion of promising innovations into commercially viable solutions and create sustainable value for customers and shareholders.
A Partnership Combining Capital and Operational Expertise
Under the agreement, Shorooq will manage the fund and direct its investments in line with du's strategic objectives. A significant portion of these investments will be dedicated to supporting startups and entrepreneurs based in the UAE.
Mahmoud Adi, Co-founder of Shorooq, believes that the biggest challenge for many startups isn't just securing funding, but gaining access to strategic partners and infrastructure capable of supporting expansion and growth.
He explained that the partnership with du offers startups the opportunity to benefit from a wide network of operational and technical capabilities. This will help them accelerate market access and transform innovative ideas into scalable businesses.
Supporting Innovation as a Path to Economic Growth
The launch of 'du Ventures' comes at a time when institutional investment funds are increasingly vital tools for supporting entrepreneurship and enhancing the competitiveness of digital economies. It also reflects growing confidence in the ability of startups to play a pivotal role in developing future technology sectors and creating new economic opportunities.
Through this investment, du aims to build direct bridges with the innovation ecosystem and contribute to the development of technology companies capable of leading the next wave of digital growth. This will further strengthen the UAE's position as a regional hub for innovation, entrepreneurship, and advanced technology.
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